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Production of 3.269 million ROM tonnes was achieved from its operations for the six months ending December 31, up 8.2% on 2003 results.
Cash flow from operating activities for the half year was $48 million.
Capital investment, including the acquisition of a further 25% interest in Wambo and the initial tranche of investment for coking coal project Millennium, totaled $65.1 million.
Excel has completed the upgrade of its drift conveyor system at the Metropolitan longwall. The drift upgrade followed widening of the longwall face last May and is part of Excel’s ongoing plan to increase production from the mine.
Excel kept with its original 2004-05 net profit guidance of $60-70 million.
